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    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Businesses must accept eNaira as a form of payment – CBN

    List of companies licensed by CBN as mobile money operators

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    NNPP wins Kano Gov. Election, curfew declared by government

    NNPP wins Kano Gov. Election, curfew declared by government

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    Gov. Election: INEC declares Sanwo-Olu winner in Lagos State

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    More than 70 feared dead as boat capsizes in Anambra

    Anambra state House of Assembly election results

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    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

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    • Economic Data
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    • Cryptocurrencies
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    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

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    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

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    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

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    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

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Japanese Stock Market crashes as the Prime Minister Shinzo Abe resigns

Friday, 28 August 2020, 10:26 am
in News, World
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Japanese Stock Market crashes as the Prime Minister Shinzo Abe resigns
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Japanese Prime Minister Shinzo Abe on Friday announced his resignation. Abe said he had decided to resign because of illness.

Japanese financial markets were roiled in the afternoon trade on Friday after news that Japanese prime minister Shinzo Abe will resign for health reasons broke.

NIKKEI 225 closed 1.41% down.

U.S 30 futures is up by 0.45% and U.S 500 futures is up by 0.32%.

FTSE 100 is up by 0.19%

On the other hand, the US dollar index was down by 0.5%, after the Japanese yen (one of the biggest weights in the basket) jumped. The yen was up by 0.5% on Friday and has strengthened to the 106 yen per US dollar mark.

The Abe development hit markets as investors were still coming to terms with an overnight move by US Federal Reserve to shift its policy framework by placing more emphasis on boosting economic growth and less on worries about letting inflation run too high.

  • Read also; Nigeria’s Manufacturing Sector Contracts in August for the fourth consecutive months
  • Why International Flights resumption was postponed

In a news conference in Tokyo, Abe told reporters that he had been “struggling” with his health, which had begun to deteriorate in mid-July, and he was ready to call time on his leadership of the world’s third-largest economy.

“My poor health should not lead to wrong political decisions,” he said. “As I’m no longer able to meet the expectation of the mandate of the people of Japan, I have decided that I should not stay in the position as prime minister anymore. So I have decided to step down.”

Abe is known to have battled chronic ulcerative colitis, and public broadcaster NHK reported that medical tests conducted Aug. 17 showed that his condition had worsened. Alternative medicine was prescribed when Abe returned to the doctor a week later but the prime minister was told treatment would take a year, the broadcaster reported.

Abe, 65, is Japan’s longest-serving leader, having overseen a period of relative stability in a nation previously known for frequent leadership changes. He began his current term after a landslide victory in 2012, following an earlier stint as prime minister in 2006-07

Having witnessed his 2,799th day in office Monday, Abe had just become the nation’s longest-serving prime minister in terms of consecutive tenure.

Written by;

Ifunanya Ikueze

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